The Saudi Stock Exchange (Tadawul) announces that the accumulated losses of Etihad Atheeb Telecommunication Co. has reached 75% or more and less than 100% of its capital

Thursday, December 15, 2016 at 8:11 AM

Thu Dec 15, 2016 08:11

Based on the instructions and procedures related to listed companies with accumulated losses reaching 50% or more of its capital, issued by the board of the Capital Market Authority (CMA) pursuant to its resolution number 4-48-2013 dated 15/1/1435H corresponding to 18/11/2013G, and as a result to the announcement of Etihad Atheeb Telecommunication Co. dated 14/12/2016  that its accumulated losses reached (75.95%) of its capital, and since this percentage of accumulated losses represents 75% or more and less than 100% of its capital, the Saudi Stock Exchange  (Tadawul) under the aforementioned instructions and procedures will do the following: 

  1. 1. Suspend trading of the company’s shares for one session following the announcement.
  2. 2. Put an orange flag next to the company’s name on Tadawul website.
  3. 3. Settlement will occur within two business days (T+2).